The website's parent company, AWS Convergence Technologies Inc., committed to a five-year lease on the space. Terms of the agreement with Keith Foery and Phillip McCarthy of Transwestern Commercial Services--which represented property owners ARGO Investments, a partnership involving Foulger-Pratt and the Peterson Cos.--have not been disclosed. However, according to Advantis Real Estate Services Co.'s Third Quarter 2004 Office Report, class A office space in the Germantown/Olney submarket goes for an average $23.75 per sf.
Occupying a 36.5-acre parcel, Milestone Business Park sits off I-270 in Montgomery County and has the capacity to accommodate an additional 500,000 sf of space. The property is also home to ACS Education Solutions/ACS State and Local Solutions, which signed a 10-year lease on 96,600-sf just last month.
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